Lexique

FCP (Fonds commun de placement)

Common fund. The FCP has no legal personality and is a collective investment scheme of financial instruments and deposits, with units issued and redeemed on request from subscribers and holders at their net asset value, plus or minus fees and commissions.
When the investor buys units, he/she becomes a member of a collective investment scheme in financial instruments but has no voting rights. The FCP is set up by the asset management company, which manages it and selects a custodian for the fund’s assets.